I have been having the problem of Balanitis for a few years. For some time, I had developed Phemosis also. During that period, I consulted a Urologist who suggested circumcision, telling that circumcision was the only solution for this condition. I somehow was not convinced and did not want to undergo surgery.
I started reading literature from the internet about home remedies and natural ways to treat this problem. Somewhere I read that application of coconut oil had helped some people in this condition.
I was advised by the doctor to keep my glans area clean by retracting the foreskin. I applied some standard antibiotic/anti inflammatory cream to correct Phemosis and get the foreskin to retract. Then, based on what I understood from the literature I read on the internet, I started using mustard oil.
Regular application of mustard oil on foreskin has completely cured my Balanitis.